As of 5:00 p.m. ET, Bezos was worth $49.8 billion, barely holding on to his place as the world’s fourth richest person. By 5:30 p.m. ET, Bezos had lost another $800 million dollars, which puts him in fifth place behind Carlos Slim Helu of Mexico, who is now the fourth richest person in the world with a net worth of $49.6 billion.
Forbes reports investors expected a positive report from Amazon, but the company missed analyst expectations in its fourth quarter earnings report. Amazon reported a profit of $1.00 per share, while analysts expected an average profit of $1.56. In response to the news, the stock fell to a low of $545.97 after hours from its closing share price of $635.55 per share. As of 5:00 p.m. ET, Amazon was trading at $562.80.
While Bezos’ fortune fell more than $6 billion in the first hour of after-hours trading, the billionaire’s net worth has still increased dramatically in the past year. Bezos’ net worth is up more than 40% since Forbes published its annual Billionaires List in 2015. At that time, he was the 15th richest person in the world with a net worth of $34.8 billion.
No comments:
Post a Comment